Bitcoin in the Red Zone: Legendary Analyst Reveals What to Expect Next – Should We Worry?

Following the depreciation in the Bitcoin (BTC) price, which resulted in a decline of approximately 3% in the last 24 hours, il Capo, one of the legendary cryptocurrency analysts, evaluated the BTC price.

In his post on X, il Capo stated that the support point is $67,000. According to the analyst, there is an accumulation of demand at these levels and in his main scenario, this level is expected to hold and the bullish atmosphere will continue.

According to the analyst, if the $67,000 level fails to hold, the next support zone will be $65,000.

il Capo, in his statement today, talked about one of the most important issues of the day, Mt. He also touched upon BTC transfers from the Gox exchange. According to the analyst, the exchange officials in question are moving Bitcoins in preparation for refunding their customers.

According to the analyst, although there are some approvals and progress regarding the payments, there is time until October 2024 for the full payments to be made, so the analyst argues that there is nothing to worry about at the moment.

Mt. Gox cryptocurrency exchange was hacked years ago and thousands of Bitcoins belonging to users were stolen. This was an extremely important event for BTC, which was in its infancy at that time, and some even began to think that BTC was doomed.

*This is not investment advice.

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